NEST Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7422 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7422 To amend the Internal Revenue Code of 1986 to allow the establishment of first-time homebuyer savings accounts. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 9, 2026 Mrs. Cammack (for herself and Mr. Moylan) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to allow the establishment of first-time homebuyer savings accounts. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Next-Generation Equity Savings Tool Act'' or the ``NEST Act''. SEC. 2. FIRST-TIME HOMEBUYER SAVINGS ACCOUNT. (a) In General.--Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 223 the following new section: ``SEC. 223A. FIRST-TIME HOMEBUYER SAVINGS AC…